We are frequently asked as to how parents and grandparents should set up Oeic (or unit trust) invest...
We are frequently asked as to how parents and grandparents should set up Oeic (or unit trust) investments on behalf of minor children or grandchildren and what are the tax implications. We consider the two normal alternatives - a designated account or a trust. Can a minor invest in an Oeic? This is dependent on the practice of the particular provider. Many providers (including NPI) will not accept applications from minors (persons under the age of 18 in English law). The reason is that such contracts would be voidable by the child during minority or within a reasonable time of attaining m...
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